On This Day

Black Tuesday

Black Tuesday hits Wall Street on October 29, 1929. In a single day, stock prices collapsed completely and billions of dollars were lost, wiping out thousands of investors and causing the nation to spiral downward into the Great Depression.

By 1933, nearly half of America’s banks had failed. It would take World War II, and the armaments production taken on by the United States, to finally bring the country out of the Depression after a decade of suffering.